We underwrite property catastrophe excess of loss, pro rata treaty and risk excess
of loss reinsurance within the property product segment. On a net written premium
basis, the largest component of the property book is pro rata business which is
aggregated with excess of loss business for purposes of monitoring geographic
distribution of our catastrophe exposures. Catastrophe excess of loss, is our second
largest property segment, which is technically rated on an individual contract basis
with accumulations of exposures captured and monitored using proprietary and
RMS (Risk Management Solutions) models. Property catastrophe excess of loss
products are written on a geographically diversified basis and on a traditional and
non-traditional basis.
Imagine underwrites risk excess of loss business covering property risks,
and Reinsurance-To-Close ("RITC") transactions that may cover multiple lines
of business including marine. Within this segment, Imagine also underwrites auto
and truck GAP/VRG programs. These programs reimburse insureds for either the
difference between loan or lease balances due or the replacement cost of damaged,
lost or stolen vehicles and the proceeds of primary insurance policies.
